Giving Financial Help to Adult Children: One Problem at a Time, Please

What is the best way for you to help an adult child who has financial needs without alienating your other children? 

Column distributed by Hearst Connecticut Media Group.

Links to resources referenced:

• Bankrate Survey: 61% of parents with adult children have sacrificed to help their kids financially 
  • https://www.bankrate.com/banking/parents-sacrifice-for-adult-children-survey/ 
  • Related column excerpt:
    • “It’s not unusual for parents to help their adult children, even if it means making a financial sacrifice. A 2024 Financial Independence Survey by Bankrate, a consumer financial services company, reported that 61% of parents or guardians ‘are currently sacrificing, or have sacrificed, financially to provide assistance to their adult children.’” 
• Synchrony: When Uneven Spending on Your Kids Is Right
  • https://www.synchrony.com/blog/banking/when-uneven-spending-on-kids-is-right
  • Related column excerpt:
    • “‘For parents of adult children, it’s … OK to consider uneven spending when a child faces hard times,’ quoting Chris Warren in the Synchrony article ‘When Uneven Spending on Your Kids Is Right.’ ‘But all financial professionals caution against allowing an adult child’s short-term financial need to become long-term financial dependency.’”  

• Psychology Today: Managing the Impact of a Struggling Adult Child on Siblings
  • https://www.psychologytoday.com/us/blog/liking-the-child-you-love/202406/managing-the-impact-of-a-struggling-adult-child-on-siblings 
  • Related column excerpt:
    • “Will other siblings suffer? Psychologist Jeffrey Bernstein, Ph.D., an author of seven books, wrote on the Psychology Today website: ‘Parents naturally want to help their struggling child, but this can create an imbalance where the needs of other siblings are overlooked.’”